Dow Jones has introduced an online course on the principles of investing under Islamic law. The Prin...
Dow Jones has introduced an online course on the principles of investing under Islamic law.
The Principles of Islamic Investing follows the introduction of the Dow Jones Islamic Market Index, which was launched in 1999. This was the first global equity benchmark created by an established index provider for investors seeking to follow Islamic investment guidelines.
The course is not only designed for Muslims but also for those providing financial services to Muslim communities and for others interested in Islamic principles as a form of social and ethical investing, according to Dow Jones.
The course is provided by Dow Jones University, an internet-based education service from Dow Jones & Company which offers a range of investing courses for both novice and more advanced investors.
This particular course consists of six lessons, all of which are designed to teach how a faith-based Muslim would approach the investment and financial world according to Islamic principles.
These include an examination of the Islamic legal perspective on the ownership of securities, the types of securities and companies acceptable to a committed Muslim, and the Islamic principles that govern investing, capital, entrepreneurs, financing and partnerships.
It is designed so that students proceed through the lessons at their own pace and in their own time. Students also have the opportunity to address questions to the instructors through online chat sessions and via e-mail.
Yusuf Talal DeLorenzo, one of the four principle instructors on the course, said: "For generations, Muslims spent years teaching their children the difference between what was lawful and what was unlawful. Only when they had learned the difference were they allowed to go to the marketplace and make a living.
"This course is designed to enable modern Muslim business people and professionals to approach today's financial securities marketplace with the same sort of confidence."
The course is taught by four experts in the field of Islamic law and investment principles. One of these is Justice Muhammad Taqi Usmani of Pakistan, who has been a member of the Supreme Court of Pakistan since 1982 and is vice-chairman of the OIC Fiqh Academy in Jeddah. Others are Dr Mohamed Elgari of Saudi Arabia, who is director of the Centre of Research in Islamic Economics at King Abdulaziz University in Saudi Arabia and is an expert Shari'ah (Islamic law) consultant to the OIC Fiqh Academy in Jeddah.
Yusuf Talal DeLorenzo is an Islamic scholar in the US and Rushdi Siddiqui is director of the Dow Jones Islamic Market Index.
Rushdi Siddiqui said: "The launch of the Dow Jones Islamic Market Index generated tremendous interest from Muslims and non-Muslims throughout the world. This course will provide a practical understanding of the issues involved in the Shari'ah compliant investing, and related issues such as the purification of impure income from investments and the concept of Zahah, or charitable giving."
The course is priced at $59. The first course of Principles of Islamic Investing, will start this month. For further information go to www.dj.com
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